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A simple EMA based trend following system

  • #1
  • First Post: Edited Mar 23, 2011 1:03am Mar 22, 2011 2:47am | Edited Mar 23, 2011 1:03am
Hello!


Instrument

EURUSD

Time frame

M15

System type

Trend following

Trend direction

EMA20 > EMA50 = Trend is UP
EMA20 < EMA50 = Trend is DOWN

Prerequisites for BUY entry

 

  1. Trend is UP
  2. Last bar's close < EMA20

Prerequisites for SELL entry

 

  1. Trend is DOWN
  2. Last bar's close > EMA20

Entry Rules

 

  1. Do NOT sell if trend is UP
  2. Do NOT buy if trend is DOWN
  3. Otherwise use discretion (e.g. time of day, candle patterns, last day's high and low, etc.)

Stops & Profits

 

  1. Do NOT use last S&R for placing stops.
  2. Do NOT use next S&R for take profits.
  3. Do NOT move stops to "break even".
  4. Wait for bigger profits to materialize.
  5. But close trades that do not start working on the next few bars.

Indicators

 

  1. EMA20
  2. EMA50
  3. Entry Zone.mq4


Will post some trades when they happen.

Attached File(s)
File Type: tpl fifty_v1.tpl   1 KB | 687 downloads
File Type: mq4 Entry Zone.mq4   1 KB | 801 downloads
  • #2
  • Mar 22, 2011 5:36am Mar 22, 2011 5:36am
Trend is UP (EMA20 > EMA50).

Price retraced into the buy zone, but was rejected from EMA50.

Entered long on the next candle.
Attached Image (click to enlarge)
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  • #3
  • Mar 22, 2011 7:57am Mar 22, 2011 7:57am
SL -11 pips
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  • #4
  • Mar 22, 2011 8:22am Mar 22, 2011 8:22am
The price fell heavily but stalled.

The Trend is still UP (EMA20 > EMA50).

Buy @ 1.42133 SL 1.41950 (~18 pips).
Attached Image (click to enlarge)
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  • #5
  • Mar 22, 2011 9:24am Mar 22, 2011 9:24am
SL -18 pips

Total this week -29 pips
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  • #6
  • Edited 12:57am Mar 23, 2011 12:52am | Edited 12:57am
There was a good SELL entry point around 20:00 - 22:00. Did not take the SELL, because usually EURUSD does not move much before Tokyo.
Attached Image (click to enlarge)
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  • #7
  • Mar 24, 2011 7:29am Mar 24, 2011 7:29am
Sold after those three spike candles. Will add more if it goes down. Stop set at 1.4155.
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  • #8
  • Mar 24, 2011 8:41am Mar 24, 2011 8:41am
Second sell activated. Will wait now. TP set to 1.3987 on all 3 trades.
Attached Image (click to enlarge)
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  • #9
  • Last Post: Mar 24, 2011 10:06am Mar 24, 2011 10:06am
stopped out -16 on first, -36 on second, -52 total.

-81 pips total for a week
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